You could do something very basic with discrete components for controlling wireless lighting systems but system starts to get out of hand when you need to have a bunch of lights nearby. It's much cheaper, simpler, and smaller to reduce it down to a chip and move to a digital RF system. I've got a bunch of RF controlled outlets in my house but it's just about the dumbest system you can buy. It's on par with the typical remote garage door opener. You can program the on/off buttons on the remote for each outlet but that's as far as it goes. I'd like to be able to remotely control them away from home or be able to give each light or outlet its own schedule and that requires either a central controller or each device having network access for network time and remote control.

Interestingly, a friend rented a house in college once that had a system of low voltage light switches that ran back to a cabinet filled with relays that controlled light switches and outlets. No major benefit to the user other than a control panel in the master bedroom that lets you control the exterior and some interior lights. It was a neat system but definitely outdated. I'd imagine a retrofit would be to drop all of the relays for solid state and provide a networked controller to monitor status and provide remote control.